In a first, Canada will allow the payment of property tax in bitcoin according to a report by Businesswire. The process will be expedited through Coinberry, a canadian digital currency platform.
Coinberry will enable property owners of Canada to pay their property tax in Bitcoin. It is the largest cryptocurrency based digital currency platform in the country. Coinberry recently announced a 2nd municipal partnership with the City of Richmond Hill. The company will interface with the city’s payment platform to enable payment in cryptocurrencies, including Bitcoin.
The Company will build a payment platform that will integrate into the city’s current setup and enable the collection of payments via cryptocurrency. The decision to go forward was passed on July 10th 2019 by the City Council. Consequently, an agreement was made between Coinberry and the Richmond Hill City to provide cryptocurrency services for collection of dues.
“We believe that the demand for a digital currency payment option is only going to grow in the coming years, especially amongst millennials. Our Council was aware of Coinberry’s successful implementation of a digital currency payment service with the Town of Innisfil, and since there was no cost and no risk to the City of Richmond Hill to do the same, it made the decision that much easier for us.”RICHMOND HILL DEPUTY MAYOR JOE DI PAOLA
“We are very happy to be entering into a partnership with our second Canadian Municipality. Leaders of government and enterprise organizations are realizing that, with the right partners, they can innovate with blockchain and digital currencies. We’re pleased to be working on additional innovative solutions with leading enterprise and municipal partners, and have a number of very exciting initiatives we will be announcing over the next several months.”ANDREI POLIAKOV, COINBERRY CEO AND CO-FOUNDER
The City Council will run the property tax section for a trial period where they will invite feedback from workers and users. If favourable, the City will implement the payment system for other sections as well. The cryptocurrency payment gateway will only be added to the current systems and will not be replacing traditional modes of payment.
About Coinberry Limited
Founded in 2017, Coinberry is a FINTRAC-registered, fintech focused on blockchain and digital currency solutions. Based in Toronto, Canada, they share a home with such notable crypto projects like Ethereum, Polymath, and Aion. Coinberry was the first digital currency platform to partner with a Municipal Government for Bitcoin tax payment processing in Canada.
Coinberry offers members the simplest and quickest way to buy and sell Bitcoin, Ethereum, Litecoin, XRP and Bitcoin Cash using Canadian dollars.
Trusted by thousands of users in Canada and abroad, they boast the capacity to deliver the best in class user experience. The platform supports both desktop and mobile experiences across their suite of Web, iOS and Android applications.
About the City of Richmond Hill
Richmond Hill (2016 population 195,022) is a city in south-central York Region, Ontario, Canada. Part of the Greater Toronto Area, it is the York Region’s third most populous municipality and the 28th most populous municipality in Canada.
Richmond Hill has seen a population growth since the 1990s. The city is home to the David Dunlap Observatory telescope, the largest in Canada.